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Quinn Emanuel Urquhart Oliver & Hedges reported a 6% decline in profits per partner for 2009 with the firm’s 388 partners averaging $3.1 million in profits. In 2008 Quinn Emanuel reported an average of $3.3 million in profits per partner. Revenues declined 5%, from $442 million to $420 million. Revenue per lawyer dropped from $1.1 million to $1 million.
William Urquhart believes the declines can be attributed to a lagging first quarter. After a packed final half of 2008, the firm saw billable hours suddenly drop as important cases were settled or concluded. Urquhart says the workload began to pick up in the second quarter of 2009.
Quinn Emanuel was founded in 1986 by John B. Quinn. It is headquartered in Los Angeles with other offices in San Francisco, Silicon Valley, New York, Chicago, Tokyo and London. The firm has 400 lawyers and focuses on business litigation. In 2008 Quinn Emanuel had the third highest profits per partner in the Am Law 100.
